Payment Data Systems, Inc., has announced plans to develop and deploy a wireless mobile payments application called “iRemotePay.”
The integrated electronic payments solutions provider will initially deploy the application for the iPhone, iPad and iTouch and said it plans to implement it for Android phones in the future.
For iPhones, an application that includes a card reader device will enable merchants to process credit card and ACH payments over wireless networks from various locations and allow merchants to view the payment transactions when they are away from the office.
This strategy is compatible with Payment Data System’s market strategy that targets major enterprises that have large customer bases and have a need for remote payment processing applications for full-time operations or just for special events.
The company is also targeting smaller companies such as HVAC or plumbing services that could benefit from wireless payment applications.
Payment Data System claims that its product is different from other mobile payment solutions because it will allow the entry and processing of e-Checks and because it is targeted to merchants who have a single or multiple devices in their office but have a need for a common settlement account.
In order to fully comply with all current and future PCI security requirements, the iRemotePay product is being deployed with fully encrypted end-to-end transactions.
Payment Data System plans on the iRemotePay iPhone application to be available in the fourth quarter of 2011.